Top Saudi bank NCB Q2 profit tumbles 37pct

From Tradearabia.com: National Commercial Bank (NCB), Saudi Arabia’s largest bank by assets, reported second-quarter profit of 1.19 billion riyals ($317.3 million) on Sunday, down 37 percent from a year earlier.

State-owned NCB, which is slated for privatisation, made a net profit of about 2.24 billion riyals in the six months to June 30, it said in a statement. That is 39 percent lower than the same period in 2008………..Full Article: Source